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Iceland Tax Information

24% VSK

VSK (VAT) is 24% standard, 11% for hotels/books/food. No threshold - all businesses must register. Source: Icelandic Revenue and Customs.

Tutor Services to Invoice

  • Individual tutoring
  • Group tutoring
  • Test prep
  • Homework help
  • College counseling
  • Online tutoring
  • Subject specialization

Invoice Requirements in Iceland

Kennitala
VSK number
Business address
Client kennitala
VSK breakdown
Total in ISK

Payment Terms

Packages paid upfront. Individual sessions paid at time of service.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Tutor Invoice Tips

  • Specify subject/level
  • Include session duration
  • Note student name
  • Reference lesson dates
  • Track package usage

Frequently Asked Questions

What tax rate applies to tutor invoices in Iceland?

Iceland has 24% VSK. VSK (VAT) is 24% standard, 11% for hotels/books/food. No threshold - all businesses must register. Source: Icelandic Revenue and Customs.

What payment methods are common for tutors in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Packages paid upfront. Individual sessions paid at time of service.

What should tutor invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For tutor services specifically, also include: Individual tutoring, Group tutoring, Test prep.

How should tutors price their services?

Hourly rates based on subject, level, and experience. Offer package discounts.

Should tutors require packages?

Packages encourage commitment. Offer flexibility with package sizes.

What VSK rates apply?

Iceland has 24% standard VAT and 11% reduced rate for hotels, books, and some food. No zero-rated goods domestically.